Hut 8 Mining (TSE:HUT) Trading Down 8.6%

Hut 8 Mining Corp. (TSE:HUT) fell 8.6% during mid-day trading on Tuesday . The company traded as low as C$3.95 and last traded at C$4.03. 650,953 shares were traded during mid-day trading, a decline of 70% from the average session volume of 2,174,351 shares. The stock had previously closed at C$4.41.

Separately, HC Wainwright reiterated a “buy” rating and issued a C$14.00 price target on shares of Hut 8 Mining in a report on Tuesday, June 1st.

The firm has a market capitalization of C$629.91 million and a price-to-earnings ratio of 7.09. The company has a 50 day simple moving average of C$5.64. The company has a debt-to-equity ratio of 0.41, a current ratio of 33.08 and a quick ratio of 4.76.

Hut 8 Mining (TSE:HUT) last issued its quarterly earnings data on Thursday, March 25th. The company reported C$0.28 EPS for the quarter, topping analysts’ consensus estimates of C($0.07) by C$0.35. The business had revenue of C$12.99 million during the quarter, compared to analysts’ expectations of C$9.10 million. As a group, sell-side analysts predict that Hut 8 Mining Corp. will post 0.25 earnings per share for the current year.

Hut 8 Mining Company Profile (TSE:HUT)

Hut 8 Mining Corp. operates as a cryptocurrency mining company in Canada. The company engages in industrial scale bitcoin mining operations. It also owns and operates 38 BlockBoxes in Drumheller, Alberta; and 56 BlockBoxes in Medicine Hat, Alberta. The company is headquartered in Toronto, Canada.

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